Suncorp Group (Suncorp) achieved a blowout orderbook for its wholesale tier-two transaction priced on 29 August. According to the issuer, the robust investor response was the result of scarcity of product, transparent execution strategy and an influx of liquidity in the market.
Suncorp-Metway (Suncorp)’s first 144A/Reg S deal since November 2017 attracted a meaningful oversubscription and significant price tightening, despite competing for demand in a busy market. Furthermore, leads and issuer say the level of participation from Asian accounts was a positive.
Analysts tell KangaNews the trigger of a stepdown provision in Suncorp Group (Suncorp)’s Apollo 2010-1 residential mortgage-backed securities (RMBS) trust is not a sign of systemic problems with the asset class, despite rising arrears in the loan pool. In fact, they say the function is working as it should – to protect senior noteholders.
The Australian securitisation market is arguably in its best shape since the financial crisis – at least in the sense of the robustness of market infrastructure and diversity of participants on the issuer and investor sides. In November, a record number of delegates gathered in Sydney at Australian Securitisation 2018, the annual conference of the Australian Securitisation Forum, to discuss the state of play – and some of the looming challenges.
Key data and information on 23 global bank issuers active in the Australian dollar market. The issuer section includes funding strategy information as well as corporate debt data on profiled borrowers.
KangaNews is proud to present the winners of the institutional and deal categories in the KangaNews Awards 2017. After an extensive voting and verification process, KangaNews can confidently say its results reflect a true market view on the outstanding performers of 2017 in the Australian and New Zealand debt markets.